The Closing: Big Queens Deal; REBNY Sour on Union Deal; London's Fashion Cents


Pension funds are shying away from trophy property buys out of fear a new bubble is forming. [Journal]

A Courtyard Marriott hotel on the Upper East Side filed for bankruptcy protection. [Crain’s]

SEE ALSO: Open Impact and JLL Partner to Hunt for Nonprofit Deals

Benedict Realty Group snags mixed-use Queens building for $14 million in one of the largest single-property transactions of the year for the borough. [The Real Deal]

Move over, New York. London is apparently the new fashion capital of the world. [NY Post]

REBNY doesn’t think the tentative agreement for the concrete workers’ union provides enough cost savings for developers. [Crain’s]

N.Y.C. Housing Authority’s $200 million budget shortfall could cause layoffs and apartments that will go without “basic repairs.” [City Limits via The Real Deal]

Salt truck crashes through Queens repair shop wall, dangles three stories in the air. [NY Post]

A 37th Street parking lot in the Garment District could become a hotel. [DNAinfo]

Elizabeth Arden’s Red Door Spa is moving a couple of blocks down Fifth Avenue after spending 81 years in the same spot. [The Real Deal]

Apartment hunters have a couple of new tools to add to their arsenal: new websites are launching. [Crain’s]

City Council is helping finance a new energy-positive building in Kips Bay. [DNAinfo]

State audit says Port Authority is spending too much money on overtime. [NY Post]